Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,915 shares of the coffee company’s stock after buying an additional 9,733 shares during the quarter. Townsquare Capital LLC’s holdings in Starbucks were worth $15,590,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter worth $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter worth $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the second quarter worth $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $100.68 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business has a 50-day moving average of $97.30 and a 200-day moving average of $87.55. The company has a market capitalization of $114.15 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.42%. Starbucks’s dividend payout ratio is presently 73.72%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.